Ingersoll Rand Declares Regular Quarterly Cash Dividend, Announces Increased Share Repurchase Authorization
25 April 2024 - 10:30PM
Business Wire
The Board of Directors of Ingersoll Rand Inc. (NYSE: IR), a
global provider of mission-critical flow creation and industrial
solutions, declared today a regular quarterly cash dividend of
$0.02 (two cents) per share of common stock, payable on June 6,
2024, to stockholders of record on May 16, 2024.
Ingersoll Rand’s Board of Directors also approved an incremental
$1 billion increase to the share repurchase authorization. Aligned
with the company’s previously communicated capital allocation
strategy, Ingersoll Rand estimates it will fully utilize the
remainder of the existing $750 million repurchase authorization by
the end of fiscal year 2024. The additional share repurchase
authorization is consistent with the company’s holistic capital
allocation philosophy and focus on shareholder value creation.
Under the repurchase program, Ingersoll Rand may from time to
time repurchase shares of its common stock in the open market at
prevailing market prices (including through Rule 10b5-1 plans), in
privately negotiated transactions, a combination thereof, or
through other transactions. The actual timing, number, manner, and
value of any shares repurchased will depend on several factors,
including the market price of Ingersoll Rand’s stock, general
market and economic conditions, the company’s liquidity
requirements, applicable legal requirements, and other business
considerations.
Forward-Looking Statements
This news release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements related to Ingersoll Rand’s expectations
regarding the performance of its business, its financial results,
its liquidity and capital resources and other non-historical
statements. These forward-looking statements generally are
identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “forecast,” “outlook,” “target,”
“endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,”
“could,” “should,” “will,” “would,” “will be,” “on track to” “will
continue,” “will likely result,” “guidance” or the negative thereof
or variations thereon or similar terminology generally intended to
identify forward-looking statements. All statements other than
historical facts are forward-looking statements.
These forward-looking statements are based on Ingersoll Rand’s
current expectations and are subject to risks and uncertainties,
which may cause actual results to differ materially from these
current expectations. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those indicated
or anticipated by such forward-looking statements. The inclusion of
such statements should not be regarded as a representation that
such plans, estimates or expectations will be achieved. Important
factors that could cause actual results to differ materially from
such plans, estimates or expectations include, among others, (1)
adverse impact on our operations and financial performance due to
natural disaster, catastrophe, global pandemics, geopolitical
tensions, cyber events, or other events outside of our control; (2)
unexpected costs, charges or expenses resulting from completed and
proposed business combinations; (3) uncertainty of the expected
financial performance of the Company; (4) failure to realize the
anticipated benefits of completed and proposed business
combinations; (5) the ability of the Company to implement its
business strategy; (6) difficulties and delays in achieving revenue
and cost synergies; (7) inability of the Company to retain and hire
key personnel; (8) evolving legal, regulatory and tax regimes; (9)
changes in general economic and/or industry specific conditions;
(10) actions by third parties, including government agencies; and
(11) other risk factors detailed in Ingersoll Rand’s most recent
Annual Report on Form 10-K filed with the Securities and Exchange
Commission (the “SEC”), as such factors may be updated from time to
time in its periodic filings with the SEC, which are available on
the SEC’s website at http://www.sec.gov. The foregoing list of
important factors is not exclusive.
Any forward-looking statements speak only as of the date of this
release. Ingersoll Rand undertakes no obligation to update any
forward-looking statements, whether as a result of new information
or developments, future events or otherwise, except as required by
law. Readers are cautioned not to place undue reliance on any of
these forward-looking statements.
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial
spirit and ownership mindset, is dedicated to Making Life Better
for our employees, customers, shareholders, and planet. Customers
lean on us for exceptional performance and durability in
mission-critical flow creation and industrial solutions. Supported
by over 80+ respected brands, our products and services excel in
the most complex and harsh conditions. Our employees develop
customers for life through their daily commitment to expertise,
productivity, and efficiency. For more information, visit
www.IRCO.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240425291523/en/
Investors: Matthew Fort Matthew.Fort@irco.com
Media: Sara Hassell Sara.Hassell@irco.com
Ingersoll Rand (NYSE:IR)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Ingersoll Rand (NYSE:IR)
Historical Stock Chart
Von Sep 2023 bis Sep 2024